B2B International Explores the Generational Differences in B2B Decision-Making
B2B International has released a new research report titled 'The Generational Differences in B2B Decision-Making'. This is an extension of the recent Merkle B2B report; 'Architecting the Ultimate B2B Customer Experience', which investigated ways in which B2B companies could create a superior customer experience through over 3,000 interviews, exploring over 5,000 brand experiences.
The research in this latest paper explores the differences in these findings across different three generational cohorts: Boomers, Gen-X and Millennials, as well as some of the key differences in decision-making processes.
One particular cohort, the Millennials, are now well embedded as decision makers across many companies and play a crucial role in both choosing and influencing the decisions to use B2B companies. But how do they differ from other generational cohorts in terms of these buying needs, behaviors and attitudes, and what does this mean for B2B businesses?
Key insights include:
- Millennials and Gen-Z spend 13 weeks and 12 weeks respectively researching a B2B company, as opposed to just 8 for Boomers
- 51% of Millennials tend to agree that digital purchasing channels lead to a more personalized solution
- There is still a substantial need for face-to-face communication throughout the B2B buyer journey, with 46% of Gen-X and Boomers, and 42% of millennials still seeking this form of communication
Matt Powell, managing director in London who wrote the report, commented on the survey findings, saying, “The research gives B2B companies a great contextual backdrop as to how B2B decisions are made across generations. Whilst we know that many B2B companies do a good job of marketing themselves to the needs of target client businesses - there is more to be done to market themselves to the needs of the individuals in these companies. This paper gives B2B companies clear pointers to the different needs across generational cohorts in B2B.”